Financing 11 cash flowing properties in 12550

[John Hickey]

Appreciate andy feedback. I have 8 hard money loans originated in the last 90 days. The properties are cash flowing. Im doing a bit of work but nothing structural and it should be complete before loan closing. So I’m looking to begin moving this into a loan. I approached a local Bank and they offered and LOI looking for 8 separate loans. They’re looking for 500. Good faith deposit for each loan. Refundable under certain conditions. Is this standard? I was looking for a portfolio loan. Anyone Dealt with this before?

[Doran Summers]

John, what’s the value of each property and where are they located at? What are the arv and how much do you own for each property? Usually the only upfront fees should be for appraisal. What’s the good faith fee and how is it refundable?